24 Exchange's Continued Record Growth Drives $300 Million ADV in January
Company also Hits New Single-Day Record Volume of $450 Million
HAMILTON, Bermuda, Feb. 3, 2021 /PRNewswire/ -- 24 Exchange, a multi-asset class, 24-hour trading platform, announced today that it reached a record Average Daily Volume (ADV) of $300 million in FX NDFs during the first month of 2021. The company set this ADV record after seeing sequential trading activity growth for each month of last year. Additionally, 24 Exchange set a new single-day record volume in FX NDFs of $450 million in January.
In the spirit of continued transparency, 24 Exchange also announced that it will begin publishing to its website monthly figures for FX NDF trading volume on the company's platform.
Dmitri Galinov, CEO and Founder of 24 Exchange, said, "We are pleased to kick off 2021 by establishing a new monthly ADV record. In building successful client relationships and providing customers with the tools, services, and expertise they need, we expect our growth will continue to build throughout 2021 as it did over the past year."
Launched last month, 24 Exchange's FX Spot product has generated increasing trading activity and customer enthusiasm. Similar to NDFs, the Spot product fosters transparent and meaningful relationship-building with clients, providing an expanding new customer base with an efficient onboarding process.
Jason Woerz, President of 24 Exchange, added, "24 Exchange is dedicated to implementing customer feedback in order to keep meeting and surpassing their evolving needs. This hands-on approach to customized solutions helps attract increasing numbers of clients, resulting in the considerable ADV growth we are seeing across our platform."
"We are dedicated to providing an optimal customer service experience for both buyers and sellers, while offering customized pricing technology and liquidity pools that are tailored to individual client needs. Going forward, we expect to see continued ADV increases sustained by our robust platform, attractive pricing, liquidity pool offerings and unmatched customer experience model," added Mr. Galinov.
24 Exchange operates in full compliance with the principles of the FX Global Code.
About 24 Exchange
24 Exchange is a multi-asset class trading platform that allows market participants to exchange their exposures at the lowest possible cost. Our mission is to enable our members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. We lower the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. 24 Exchange is operated by 24 Exchange Bermuda Limited. The company is domiciled in Hamilton, Bermuda but is not regulated by the Bermuda Monetary Authority. More information is available at https://www.24exchange.net/.
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SOURCE 24 Exchange
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